Journal
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
Volume 133, Issue 1, Pages 319-325Publisher
ELSEVIER
DOI: 10.1016/j.ijpe.2010.03.021
Keywords
Multi-location inventory system; Simulation optimisation; Particle swarm intelligence
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An optimal control of sufficiently realistic single-warehouse, multi-retailer systems (SWMR-systems) requires the simulation optimisation approach. After a brief discussion of modelling and simulation aspects for such systems, we present a simulator providing a sufficiently large set of options to customize it to realistic problem situations. The paper then focuses on the applicability of optimisation algorithms and introduces the methods particle swarm optimisation and threshold accepting. We show that both approaches yield good optimisation results for several examples of a 5-retailer system investigated according to their reordering strategy and transportation resources. (C) 2010 Elsevier B.V. All rights reserved.
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